Construction spending rises in November

Investment in building construction rose 1.7 percent in November to $19.8 billion, according to new StatCan data. Spending in the residential sector was up 2.2 percent to $13.7 billion. The increase was led by a 10.4 percent hike in Nova Scotia as well more activity in Alberta, Ontario, British Columbia, and Quebec. These increases were partially offset by declines in the other provinces as the pace of new construction slowed from earlier in 2023. Investment in detached single-family homes increased 1.2 percent to $6.6 billion.